Thomas P. Durels Sells 12,500 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT) Stock

Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Thomas P. Durels sold 12,500 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $8.11, for a total value of $101,375.00. Following the completion of the sale, the executive vice president now directly owns 74,307 shares of the company’s stock, valued at $602,629.77. This represents a 14.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Empire State Realty Trust Price Performance

NYSE ESRT opened at $7.96 on Friday. Empire State Realty Trust, Inc. has a twelve month low of $7.88 and a twelve month high of $11.62. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.72 and a current ratio of 3.72. The stock has a market capitalization of $1.33 billion, a PE ratio of 28.41 and a beta of 1.39. The stock has a 50-day simple moving average of $9.03 and a 200 day simple moving average of $10.14.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.19. Empire State Realty Trust had a return on equity of 2.84% and a net margin of 6.45%. The business had revenue of $155.13 million during the quarter, compared to analysts’ expectations of $192.62 million. Research analysts anticipate that Empire State Realty Trust, Inc. will post 0.88 EPS for the current year.

Empire State Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.035 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.14 annualized dividend and a yield of 1.76%. Empire State Realty Trust’s dividend payout ratio (DPR) is 50.00%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday.

Hedge Funds Weigh In On Empire State Realty Trust

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Empire State Realty Trust by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 19,844,999 shares of the real estate investment trust’s stock valued at $204,800,000 after acquiring an additional 461,421 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Empire State Realty Trust by 42.4% in the 4th quarter. Ameriprise Financial Inc. now owns 9,235,041 shares of the real estate investment trust’s stock valued at $95,306,000 after acquiring an additional 2,750,045 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Empire State Realty Trust by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,758,869 shares of the real estate investment trust’s stock valued at $41,648,000 after acquiring an additional 171,056 shares in the last quarter. William Blair Investment Management LLC raised its holdings in Empire State Realty Trust by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 3,720,315 shares of the real estate investment trust’s stock valued at $38,394,000 after acquiring an additional 90,758 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Empire State Realty Trust by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 3,419,970 shares of the real estate investment trust’s stock valued at $35,302,000 after acquiring an additional 13,045 shares in the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

Empire State Realty Trust Company Profile

Empire State Realty Trust, Inc (NYSE: ESRT) is a NYC-focused REIT that owns and operates a portfolio of modernized, amenitized, and well-located office, retail, and multifamily assets. The company is the recognized leader in energy efficiency and indoor environmental quality. ESRT’s flagship Empire State Building – the “World’s Most Famous Building” – includes its Observatory, Tripadvisor’s 2023 Travelers’ Choice Awards: Best of the Best the #1 attraction in the US for two consecutive years.